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ReinvDiv & Div

Unknown
Unknown Member
edited October 2018 in Investing (Windows)

I have my investment account reinvest dividends for my holdings.  Over the past few years my investment account in Quicken kept showing the wrong cash holdings and I just found out why.  Quicken is entering a ReinvDiv transaction and a Div transaction, so my holdings are increased accordingly but then Quicken also enters the Div as cash.  Is there a way to only have quicken enter the ReinvDiv transaction?   


Thanks!

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018
    That looks to me as if the data downloaded from your brokerage is either not formatted correctly by the brokerage or not interpreted correctly by Quicken.
    The transaction download should contain either
    - one ReinvDiv transaction
    or
    - one Div transaction followed by
    - one Buy transaction.

    Where the problem lies, only a support expert can figure out by taking a look at the files you download from the brokerage.
    So, if
    you haven't done so already, I'd say it's time to contact Quicken Support via
    Chat or Phone at  http://www.quicken.com/contact-support  and report this issue.


    Scroll down to the blue boxes at the bottom of the webpage for access to Chat
    or Phone Support.

    By the way, what's the name of the brokerage?
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited October 2018
    The next time that this happens, take a look in your OFXLog ... HELP, Log Files, OFX Log.  Save it to your desktop and open with NotePad or WordPad (NOT MS Word).

    Also, it's possible that you can find this situation in the OFXLog as it currently exists.

    Because this has been reported previously, I strongly suspect that the cause is that your broker is sending incorrect transactions (i.e., both the ReinvDiv and the Div) ... but your OFX Log is the evidence of what your broker actually sent.

    If that suspicion is correct, there's 3 actions that you can take.
    1) Delete that Div transaction when it comes in, AND
    2) Complain, LOUDLY, to your broker ... they're the ones who are screwing up, AND
    3) Turn off the automatic acceptance of transactions into your brokerage account ... since what your broker is sending isn't reliable enough to merit such trust.  Click EDIT, Preferences, Downloaded Transactions ... and uncheck at least "Automatically add to investment transaction lists".

    Q can, and should, do nothing to correct the matter when an Financial Institution sends incorrect info.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Unknown
    Unknown Member
    edited November 2016

    Thank you both for your help!

    Your suspicions are correct.  I see both REINVDIV and DIV entries in the OFX log file.  Based on that I'd say Quicken is handling it correctly with the information its given.  I'll send a note to my broker to look into it.  For now I'll just delete the DIV entries.

    Thanks again!

This discussion has been closed.